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The green and white company presented an annual report and accounts for the year 2019/20 with a significant improvement compared to the negative € 7.9 million of the previous year, reporting a positive result of € 12.5 million
Sporting’s SAD ended the 2019/20 financial year with a positive net result of 12.5 million euros. In the previous season, remember, the balance had been negative, -7.9 M €, and the sale of Bruno Fernandes, for 55 million plus 25 in variables, was decisive for the improvement and for a reduction in liability for the fourth consecutive quarter.
Thus, the liability is reduced by € 26.2 M, with € 23.3 M related to the repayment of bank debt. The estimated impact of the Covid-19 pandemic reached negative € 3.7 million.
The annual report and SAD accounts highlights the record turnover of € 175.5 million, up from the € 151.6 million the previous year.
This contributed decisively to the sales of Bruno Fernandes (€ 55 M + € 25 M in variables), Raphinha (€ 21 M), Thierry Correia (€ 12 M), Podence (€ 7 M), among others, as well as to sentence The player Rafael Leão will pay the club 16.5 million for the unilateral termination considered without cause. Player transactions reached 106 thousand euros, a record for the León SAD.
The hiring of Rúben Amorim appears in the report and is recorded at a cost of 10 million euros, and the amount according to public knowledge has increased and has not yet been paid.
It should be noted that the salary bill was reduced by € 12.1 million excluding severance pay and layoffs.
“Regarding Financial Position, we highlight the reduction in assets of 288.7 million euros as of July 30, 2020 and the reduction in liabilities by 26.2 million euros, which has allowed us to achieve a Net Equity of 9 , 9 million euros (June 2019: 23.6 million euros negative) ”, reads the document sent to the CMVM.
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